Facts To Be Aware Of Before You Visit Staunton Bankruptcy Attorneys

Bankruptcy Attorneys in Lexington provide up-to-date information related to debt relief options, which give you the opportunity to reorganize your debts. The reorganization process allows you to place your debts into one claim in which the judge determines a monthly payment. You are responsible for making these monthly payments according to the schedule set up by the court. If you are interested in this permanent debt-relief solution, you should contact your attorney to discuss your options.

Beginning the Process

It is advisable that you gather important details related to your debts. You will need the name of the creditor, the account number, and the current balance for each debt. The attorney needs to be aware of any debts that are already in collections and the name of the collection agency that currently has the account. It is highly probable that your credit card debts will be discharged through your bankruptcy claim.


Your attorney will evaluate your debts to determine whether bankruptcy is appropriate for your current circumstances. If it is, then he or she will prepare the necessary paperwork to start this process. All records related to your debts are included in the claim. This provides the court with the opportunity to notify your creditors of the hearing.

Your creditors are allowed to attend your bankruptcy hearing as you will need their approval to include the debt in your bankruptcy. In some cases, your attorney can negotiate with your creditors to lower the amount of the debts. He or she will secure documentation that proves the agreed upon amount when this occurs. This documentation will be placed within your claim and submitted to the court.


Bankruptcy attorneys present the option to reorganize debts in a manner that eliminates your debts altogether over time. A reorganization is basically a consolidation of your debts that stops the addition of late charges and additional finance fees. A bankruptcy claim will stop collection agencies from harassing you and making attempts to garnish your wages. By filing for a reorganization-based bankruptcy you can pay your accounts one at time over a longer period of time.


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